Low property purchases by MM2H participants

GEORGE TOWN: If each of the 11,738 participants of the Malaysia My Second Home (MM2H) programme between 2002 and 2008 were to invest in a residential property, the country would have recorded RM7.8bil worth of sales from them. But the actual sales amounted to RM407mil as only 510 of them bought houses during this period.

“If each of the MM2H applicants were to buy just one property, there would have been 1,676 properties sold a year, with an estimated gross sales value of RM7.84bil or RM1.12bil a year,” Henry Butcher Malaysia chief operating officer Tang Chee Meng told StarBiz.